Budget Highlights:
Personal
allowance increased to £10,000 in 2014/15 and the higher rate threshold
increased by £415 to £41,865.
A new tax-free
childcare scheme, phased in from autumn 2015, to provide 20% of childcare costs
up to £6,000 per child per year, for children under age 12.
The new
single-tier state pension to be introduced from April 2016.
A £2,000
Employment Allowance for businesses and charities to set against their employer
national insurance contributions from April 2014
A single rate of
corporation tax of 20% for companies from April 2015.
Stamp duty to be
abolished for shares listed on exchanges such as AIM from April 2014.
A limited one
year extension of capital gains tax reinvestment relief for Seed Enterprise
Investment Schemes.
A package of
measures to increase the supply of low-deposit mortgages for credit-worthy
households including a government-backed mortgage guarantee scheme from January
2014.
A raft of
specific anti-avoidance measures alongside the new General Anti-Abuse Rule
(GAAR)....
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